INSO to Cancel 100 Million Shares

Rhea-AI Summary

Industry Source Consulting (OTC PINK: INSO) has announced the cancellation of 100 million common shares, part of a strategic move to restructure its balance sheet and focus on its merger with Wonder 7 Global, known as The Young Entrepreneur Project. This decision is aimed at enhancing shareholder value and strengthening the company’s financial foundation. YEP, which supports entrepreneurs globally, boasts over 5,000 members and is targeting expansion in an untapped market.

Positive

• Cancellation of 100 million shares to clean up balance sheet
• Merger with Wonder 7 Global could offer strategic growth opportunities
• YEP has a strong entrepreneurial community with over 5,000 members globally

Negative

• None.

ATLANTA, GA / ACCESSWIRE / October 21, 2020 / INDUSTRY SOURCE CONSULTING, INC. (OTC PINK:INSO) announced today that the Company is cancelling one hundred million common shares. The shares were issued as part of a transaction that is no longer in the Company's plans.

INSO recently announced that it had entered into an Agreement to merge with Wonder 7 Global, LLC, dba "The Young Entrepreneur Project" (YEP). Pursuant to the Agreement, the parties are working together to reduce the number of shares outstanding as well as cleaning up INSO's balance sheet by paying off outstanding Convertible Promissory Notes.

YEP, based in Leawood, KS, is in the business of assisting entrepreneurs searching for the tools and resources needed to execute their business plan. The fast-growing member driven Company has revenues and strong growth in a market that, to date, is untapped. With over 5,000 members on six continents and over twenty countries, YEP has built a strong Entrepreneurial community with an expansive growth plan to expand the Company's global footprint.

"This is the next step in the process of building a strong corporate foundation. By cancelling these shares and cleaning up the Company's balance sheet, we can continue implementing our business plan worldwide and bring increased value to our shareholders," stated YEP's CEO, Jimmy Ezzell."

Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.

CONTACT: Industry Source Consulting, Inc.
info@insoconsulting.com
insoconsulting.com
PH: 833-INSONOW

SOURCE: Industry Source Consulting, Inc.

View source version on accesswire.com:
https://www.accesswire.com/611587/INSO-to-Cancel-100-Million-Shares

FAQ

What recent announcement did Industry Source Consulting make regarding its shares?

Industry Source Consulting announced the cancellation of 100 million common shares to restructure its balance sheet and focus on its merger plans.

What is the significance of the merger with Wonder 7 Global for INSO?

The merger with Wonder 7 Global aims to enhance shareholder value and strengthen the company's financial foundation while targeting growth in an untapped market.

What is the Young Entrepreneur Project (YEP) and its relevance to INSO?

The Young Entrepreneur Project assists entrepreneurs globally and has over 5,000 members, marking a strong community that could facilitate market expansion for INSO.